Volkswagen Q1 Report 2022

In the first quarter of 2022, the Volkswagen Group generated sales revenue of €62.7 (62.4) billion, which was in a similar range as in the prior-year period. Positive mix and exchange rate effects, improved price positioning and the good business performance of the Financial Services Division were set against vehicle availability which continued to be limited due to parts supply shortages. Consolidated sales revenue includes an amount of €2.1 billion relating to Navistar; Navi- star has been consolidated since July 1, 2021.

The Volkswagen Group’s operating result before special items improved by €3.6 billion to €8.5 billion in the period from January to March 2022. The operating return on sales before special items climbed to 13.5 (7.7)%. Positive contri- butions arose mainly from the fair value measurement of derivates to which hedge accounting is not applied (especially commodity hedging derivatives for nickel) in an amount of €3.5 (0.5) billion and from the mix and price positioning.